On days when the market makes a clear move in one direction, I’m getting better at jumping on the train. With last Thursday’s rally, I successfully went long and today, I went short when the levy was breached. Now it’s much harder to garner gains on those range bound and choppy days as clear moves intraday come maybe once a week or so.
MBI gapped up and was an alert in chat and as a pre-market gainer. I shorted it when it cracked $4.50 and stayed in until the price bar crossed the 10 SMA on the 1 minute chart per my decision making tree I posted on Monday. I shorted C and KEY when they breached their $ thresholds. On these, I used the 1 minute chart instead of the 5 minute chart to get the exit signal of a price bar crossover of the 10 SMA; per my rules this was technically wrong, but I sensed the market was bouncing off the bottom and was going to reverse so this over-ride was a rational choice and worked out. I made an ordering mistake with KEY so didn’t maximize my gains there.
|MBI||.65||S||Followed rules perfectly; let run, got out w/ reverse|
|KEY||.06||S||Could of made .1 more but made order mistake|
|C||.05||S||C & KEY – exited with bar cross on 1 min not 5 min|
I finally got my Laser password worked out so I am going to test things out. I would like to make a couple test trades this week of just 10 shares to start learning the Cy Group platform. I can do this small level with with NASDAQ stocks, otherwise you are required to trade at a level of at least 100 shares.